10 Best 52-Week Low NASDAQ Stocks to Buy According to Billionaires

8. Applied Digital (NASDAQ:APLD)

Number of Billionaire Holders: 18

Number of Hedge Fund Holders: 59

Applied Digital’s stock fell hard when its chief executive said out loud what the market already feared: building data centers takes a lot of money that has not yet been raised. Wes Cummins told CNBC that about 800 megawatts of capacity still needs financing over the next 12 months, and that higher interest rates have raised borrowing costs. Last quarter, interest expense of $77.4 million was larger than the $65.8 million the company collected in base rent. Shares fell again after the midterms, Reuters reported.

Bulls focus on the contracts behind the build. Applied Digital has leases for about 1.41 gigawatts across five campuses, representing roughly $36 billion of contracted revenue over the initial terms, with tenants that include CoreWeave and investment-grade hyperscalers. Revenue rose 322% to $341.9 million last quarter, and the Polaris Forge 1 campus in North Dakota has 250 megawatts running. The argument is that once financing closes, rent from long leases should start to cover the debt. Bulls see financing as a question of when, not whether, given how much rent is already contracted.

Short sellers have noticed too, as our report on Applied Digital’s short interest shows.

7. PureCycle Technologies (NASDAQ:PCT)

Number of Billionaire Holders: 19

Number of Hedge Fund Holders: 40

PureCycle has a plant that works and customers that are slow to arrive. The company turns used polypropylene into a resin it sells for branded packaging, but third-quarter revenue slid to $2.3 million from $4.5 million in the second quarter. It blamed operating problems at its Ironton plant and New Jersey’s decision to extend a food-contact exemption, which pushed a group of food-contact programs into 2027 and beyond.

Bulls say the setbacks are timing, not demand. Ironton produced more resin than in the second quarter, and the company says the production problems have been resolved. It has moved its sales push to non-food uses, where a January 2027 compliance date still applies, and branded programs in progress are expected to reach 45 million to 55 million pounds a year. Total available liquidity of $393 million and lower planned spending in 2027 give it more time to prove the point. In their view, a plant that now runs better matters more than one weak quarter of revenue, especially with funding in place.

Readers who want the regulatory side can find it in our look at PureCycle’s regulatory tailwinds and execution risk.

6. Fermi (NASDAQ:FRMI)

Number of Billionaire Holders: 19

Number of Hedge Fund Holders: 57

Fermi has a huge plan and a thin record of turning it into rent. The company wants to build a giant power and data center campus in the Texas Panhandle, and its first prospective tenant walked away late last year. A $6.5 billion, 15-year lease with TensorWave for 222 megawatts followed this summer. But the lease did not take effect by its closing deadline last week because conditions were still unmet, and the shares fell. A regulatory filing also said Fermi’s cash would not cover the next 12 months without more financing.

Bulls point to AMD, which signed a credit support agreement for the lease, and to the company’s statement that the parties are still working toward closing. Fermi calls the AMD backing a key step toward project financing. The lease also lets the tenant expand the partnership to more than 650 megawatts, so a closed deal could grow well beyond the first building. That makes the closing, and the financing that follows, the event the stock now trades on.

You might also be interested in reading our piece on how a landmark power deal puts Fermi’s big bet to the test.

5. INNIO (NASDAQ:INIO)

Number of Billionaire Holders: 19

Number of Hedge Fund Holders: 55

INNIO’s stock tumbled after the best quarter in its history. The company makes the gas engines that let a data center generate its own power instead of waiting years for a grid connection, so a slower buildout hits it directly. Reutersreported that UBS analysts estimate about 30% of expected US data center capacity additions in 2028 could be at risk from construction pauses, a worry that grew once Democrats won Congress.

The bulls’ case sits in the order book. Revenue rose 57% to a record $1.2 billion, and the equipment backlog reached $8.0 billion, with most of the growth coming from data center deliveries. Management raised its full-year outlook. Chief executive Olaf Berlien said the company is scaling capacity to meet accelerating demand for AI infrastructure, and a 620-megawatt follow-on order from a data center developer came in during the quarter. Bulls add that even if some projects pause, a backlog of that size gives the company a long runway of deliveries already committed.

For more on who is buying those engines, see our piece on a 450-megawatt order for INNIO’s gas engines.